Re: is anyone else keeping up with this bit coin bullshit #2: electric boogaloo

by amtator Sun Nov 17, 2013 4:32 pm

no but mtgox went full retard and jerked up the price so it didnt look like everything was crashing into the ground

by **LEADER OF THE FREE WORLD** Sun Nov 17, 2013 4:34 pm

amtator wrote:no but mtgox went full retard and jerked up the price so it didnt look like everything was crashing into the ground

so fucking stupid jesus

i don't want to risk my dosh but if i don't i'll regret it

by **LEADER OF THE FREE WORLD** Sun Nov 17, 2013 4:37 pm

Present Balance $220.19

subtract ~$25 from last night's digikey order and we've got $195

by seth2 Tue Nov 19, 2013 9:53 am

High:$900.97998

HOLY MOTHERFUCKER

by amtator Tue Nov 19, 2013 10:05 am

BUBBLE BUBBLE

by Guest Tue Nov 19, 2013 10:19 am

hell yeah keep me updated

by amtator Tue Nov 19, 2013 10:23 am

Once it hit $900/btc there was a massive sell off

Then things got cheap (sub 600) and then there was a storm of purchases again.

$1,000 seems to be the threshold for now

by seth2 Tue Nov 19, 2013 10:32 am

eh if i would have invested i would have maybe made $40

maybe next time!

by Guest Tue Nov 19, 2013 10:37 am

could i invest just $10

by seth2 Tue Nov 19, 2013 10:39 am

ya get a fraction of a bitcoin

you'd need to download a bitcoin wallet though which takes fucking years to finish updating

by Guest Tue Nov 19, 2013 10:40 am

seth2 wrote:ya get a fraction of a bitcoin

you'd need to download a bitcoin wallet though which takes fucking years to finish updating

hm ok

by amtator Tue Nov 19, 2013 10:40 am

spinnythings wrote:could i invest just $10

ten bux would get you something like ~0.01 BTC

if the price increased 4x you would earn 40 dollars and then there are transaction fees so it wouldnt work, you'd likely lose money

by seth2 Tue Nov 19, 2013 10:42 am

amtator wrote:
spinnythings wrote:could i invest just $10
ten bux would get you something like ~0.01 BTC

if the price increased 4x you would earn 40 dollars and then there are transaction fees so it wouldnt work, you'd likely lose money

transaction fee for me was like $4 for $29 worth of coins

by Guest Tue Nov 19, 2013 10:42 am

amtator wrote:
spinnythings wrote:could i invest just $10
ten bux would get you something like ~0.01 BTC

if the price increased 4x you would earn 40 dollars and then there are transaction fees so it wouldnt work, you'd likely lose money

what the fuck gay
how would i lose money

by Guest Tue Nov 19, 2013 10:43 am

are transaction fees like $200
why

by amtator Tue Nov 19, 2013 10:43 am

spinnythings wrote:
amtator wrote:
spinnythings wrote:could i invest just $10
ten bux would get you something like ~0.01 BTC

if the price increased 4x you would earn 40 dollars and then there are transaction fees so it wouldnt work, you'd likely lose money
what the fuck gay
how would i lose money

if the transaction fees are more than your overall profit, which happens a lot if you buy in small quantities

by amtator Tue Nov 19, 2013 10:45 am

if you buy 10 dollars of coin and the transaction fees of buying/selling total up to 20 dollars, and you sell after profiting 7 USD, then you lost 3 dollars

see?

by Guest Tue Nov 19, 2013 10:46 am

amtator wrote:if you buy 10 dollars of coin and the transaction fees of buying/selling total up to 20 dollars, and you sell after profiting 7 USD, then you lost 3 dollars

see?

why are transaction fees so high

by amtator Tue Nov 19, 2013 10:47 am

spinnythings wrote:
amtator wrote:if you buy 10 dollars of coin and the transaction fees of buying/selling total up to 20 dollars, and you sell after profiting 7 USD, then you lost 3 dollars

see?
why are transaction fees so high

depends on place to place and how much they want to charge

when you're dealing with something like BTC where you can become a literal millionaire overnight 20 dollars transaction fees is fucking nothing and most people dont care cuz most people dont invest a shitty 10 dollars into it

by amtator Tue Nov 19, 2013 10:48 am

in order for you to make any profit off of 10 dollars you'd have to count on the currency's price going up about ~1.5x, which is extremely unlikely considering how it's floating around 1,000 USD @ 1 BTC at the moment

by Guest Tue Nov 19, 2013 11:19 am

amtator wrote:in order for you to make any profit off of 10 dollars you'd have to count on the currency's price going up about ~1.5x, which is extremely unlikely considering how it's floating around 1,000 USD @ 1 BTC at the moment

what if i invested $100

by amtator Tue Nov 19, 2013 11:20 am

spinnythings wrote:
amtator wrote:in order for you to make any profit off of 10 dollars you'd have to count on the currency's price going up about ~1.5x, which is extremely unlikely considering how it's floating around 1,000 USD @ 1 BTC at the moment
what if i invested $100

then it would be easier to make $$

by Guest Tue Nov 19, 2013 11:23 am

amtator wrote:
spinnythings wrote:
amtator wrote:in order for you to make any profit off of 10 dollars you'd have to count on the currency's price going up about ~1.5x, which is extremely unlikely considering how it's floating around 1,000 USD @ 1 BTC at the moment
what if i invested $100
then it would be easier to make $$

how likely would it be for me to lose money

by Guest Tue Nov 19, 2013 11:24 am

sixty billion dollar transaction fees do not sound like fun

by amtator Tue Nov 19, 2013 11:28 am

spinnythings wrote:
amtator wrote:
spinnythings wrote:what if i invested $100
then it would be easier to make $$
how likely would it be for me to lose money

rediculously likely

the higher the price gets the more strained it gets and eventually that cord has to snap

you can't have something like BTC where the value is determined exclusively by trading and think it'll continue to go up as it rises into the thousands

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